A Quote by Daniel Kahneman

The concept of loss aversion is certainly the most significant contribution of psychology to behavioral economics.

Daniel Kahneman

Quote Topics

Aversion Behavioral Behavioral Economics Certainly Concept Contribution Economics Loss Most Psychology Significant

Quote Author

Daniel Kahneman
Israeli - Psychologist
Born: March 5, 1934

How should the best parts of psychology and economics interrelate in an enlightened economist's mind?... I think that these behavioral economics...or economists are probably the ones that are bending them in the correct direction. I don't think it's going to be that hard to bend economics a little to accommodate what's right in psychology.

Charlie Munger

I started to read as obsessively about Star Wars as I once did about Kant - and still do about behavioral economics and behavioral psychology.

Cass Sunstein

I love Richard Thaler's 'Quasi Rational Economics.' A collection of some of his most interesting and inventive essays, the real foundation of behavioral economics.

Cass Sunstein

How could economics not be behavioral? If it isn't behavioral, what the hell is it?

Charlie Munger

Interestingly, human irrationality is a hot topic in economics at the moment. Behavioural economics it's called, on the cusp of economics and psychology.

Evan Davis

It is true that I am one of the co-authors of 'Nudge,' and I am a behavioral economist, but it does not mean that everything we write about in that book is behavioral economics, nor does it mean that my co-author, the distinguished legal scholar Cass Sunstein, is a behavioral economist.

Richard Thaler

In psychology and behavioral economics, people have shown that if you just describe options in a certain way, or make some features of a situation salient, you can get people to do and even see what you want. You don't have to be a Jedi to manipulate people's attention.

Cass Sunstein

Retirement savings is probably behavioral economists' greatest success story. It is a prototypical behavioral-economics problem because saving for retirement is cognitively hard - figuring out how much to save - and requires self-control.

Richard Thaler

There is behavioral ecology, which looks closely at the difference different ecologies make to behavior and other features of animals and humans. There's evolutionary individual psychology, there's evolutionary social psychology. In Darwin's terms, evolution couldn't exist without variation, and variation is important in behavioral genetics. And so on, and so on. There are so many instances in which evolution actually sharpens the precision, I think, with which one can find out the importance of differences. We're interested in differences as well as commonalities.

Brian Boyd

In doing that which we most enjoy, we will probably make our most significant contribution to society, and the contribution we make to society determines our rewards.

Earl Nightingale

A person who suffers from a character disorder frequently has significant behavioral or emotional problems that will almost certainly spell disaster for any marital relationships. One of the most difficult aspects of identifying people with character disorders is that they tend to be unusually charming. People with these kinds of disorders tend to lie, cheat, exaggerate, and take advantage of others.

Neil Clark Warren

I practice what has come to be called behavioral economics.

Richard Thaler

... the loss of belief in future states is politically, though certainly not spiritually, the most significant distinction betweenour present period and the centuries before. And this loss is definite. For no matter how religious our world may turn again, or how much authentic faith still exists in it, or how deeply our moral values may be rooted in our religious systems, the fear of hell is no longer among the motives which would prevent or stimulate the actions of a majority.

Hannah Arendt

In the world of traditional economics, it shouldn't matter whether you use an opt-in or opt-out system. So long as the costs of registering as a donor or a nondonor are low, the results should be similar. But many findings of behavioral economics show that tiny disparities in such rules can make a big difference.

Richard Thaler

The lesson from behavioral economics is that people only save if it's automatic.

Richard Thaler

One of the big lessons from behavioral economics is that we make decisions as a function of the environment that we're in.